Simple but efficient analysis
We are bellow (but near) 7700$ ; which is the 200 day EMA.
It is difficult to predict the direction at this price level as 2 scenarios are presented :
- If the market breaks this level with high volume , big green candle , and closes above it : positivity is imminent.
- Otherwsie : selling pressure will continue. If 7500$ broken , the negativity can be very harsh as the major support monthly level will be broken.
It is difficult to predict the direction at this price level as 2 scenarios are presented :
- If the market breaks this level with high volume , big green candle , and closes above it : positivity is imminent.
- Otherwsie : selling pressure will continue. If 7500$ broken , the negativity can be very harsh as the major support monthly level will be broken.
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